Survey Reason

Recently many investors called the inspection team team hoping we could disclose more New Zealand brokers with fake addresses. According to investors’ feedback and the inspection team’s work plan , the investigation team were going to visit Koderan in this episode.

Building Survey

According to the regulatory information, the company address of Koderan is Suite 12, 231 Dairy Flat Highway Albany Auckland. The investigation staff visited the spot.

The investigation staff found the office building listed on the regulation information in a small business street.

Exclusive

The investigation staff entered the building and found the ground floor filled up with stores. Afterwards the investigation staff walked to the 2nd floor and saw four small companies operating in all. From the signboard on the office door the staff learned that the broker did not operate on this level. To ensure the accuracy of the investigation, the staff inquired of a worker from one of the companies whether Koderan has moved. The worker was ignorant of the broker.

Survey Conclusion

It is ascertained by the investigation staff that the address of Koderan is inconsistent with that from the regulatory information. Since the broker’s Belize IFSC licence(IFSC/60/466/FX/16) is an offshore licence and its New Zealand FSPR licence(No.404486) has been deregistered.